Real Estate Agents Now Armed with New Construction Options Amidst Historic Inventory Shortages; Compass Leads the Way with Welcome Homes Relationship

Rhea-AI Summary

Welcome Homes has launched a Preferred Agent Program in partnership with Compass, aimed at enhancing service offerings for clients in the Tri-State area. This collaboration allows Compass agents to provide Welcome Homes' services, which include rapid vetting of property and guaranteed pricing within 48 hours. The program incentivizes agents through a scalable commission structure and offers various support resources. This initiative seeks to address the significant inventory shortages in the real estate market, ensuring agents can better serve their customers with new construction options.

Positive

• Launch of Preferred Agent Program with Compass enhances service offerings.
• Incentives for agents through a scalable commission structure.
• Improves real estate options amid significant inventory shortages.

Negative

• None.

• The relationship will allow Compass agents in the Tri-State area to offer Welcome Home's services to their customers
• With massive data and tech advantage, Welcome Homes vets property and issues guaranteed all-in new construction pricing in 48 hours

NEW YORK, June 2, 2022 /PRNewswire/ -- Welcome Homes, the world's first tech-powered new home builder is launching its Preferred Agent Program with Fortune 500 company and the largest independent residential real estate brokerage in the United States, Compass, Inc., (NYSE: COMP) in the Tri-State area. The relationship between Compass and Welcome Homes will allow Compass agents to offer Welcome Home's services to their customers.

"The way people buy and sell real estate has evolved more in the last two years than any other time in recent history. Brokerages that innovate the fastest will be able to bring the most value to their agents and in turn their clients," said Gordon Golub, Regional Vice President at Compass. "Our relationship with Welcome Homes is a great example of adding value in the midst of this great evolution that we are experiencing as a company and an industry. There could not be a better time to form this relationship because of the existing inventory shortage in today's market."

With the number of "for-sale" signs dropping 9.5% across the country since last year, inventory shortages are top-of-mind for every single-family agent. Unlike most tech-plays in real estate, Welcome Homes wants to empower agents, not circumvent them. "Knowledge of local markets is essential when helping consumers decide on where to live," said Alec Hartman, CEO and co-founder of Welcome Homes. "By partnering with Compass, we can drastically improve thousands of families' quality of life by selling them a new home. This is the product agents have been waiting for and can feel great about selling. Not only because there's a lucrative commission structure with Welcome, but because they'll literally be building communities with us."

Welcome Homes' Preferred Agent Program is essentially the "frequent flyer" program of real estate – incentivizing agents through a scaled commission structure that increases based on the number of homes sold through the platform. There are structured and regional bonuses, as well as an entire back-office suite to support agents in the field.

As part of the program, Welcome Homes will provide:

• Sales training on their platform and support for agents
• Co-branded advertisements
• Preferred Agent Program compensation
• Live back-office agent chat, text, and phone support

"We see this relationship with Compass through our Preferred Agent Program as amazingly, mutually beneficial. It establishes relationships with thousands of experienced local sales professionals and helps them overcome the huge inventory shortage issues by building the homes their buyers want and need," said Benjie Buford, VP of Sales of Welcome Homes.

The Compass relationship announcement comes on the heels of the success Welcome Homes has seen in the Tri-State area, with plans to expand across the East Coast in the coming months, and nationally over the next 24 months to provide agents across the country with more inventory and options for their clients.

To apply for the Preferred Agent program, please visit https://welcomehomes.com/for-agents.

About Welcome Homes

Welcome Homes is the world's first tech-enabled new home builder, creating a more seamless and price-transparent home-buying process. We cut out the unnecessary steps to make building your client's dream home fast, easy and guaranteed. We completely streamline the entire process, from land selection to customization to financing and construction. Our models are available in the Tri-State area, including Westchester County, NY, Greenwich, CT, and Bergen and Morris Counties, NJ. Welcome Homes is expanding to more areas around the U.S. For more information or to sell your own Welcome Home, visit www.welcomehomes.com.

Contact Information:
Codeword for Welcome Homes
press@welcomehomes.com

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SOURCE Welcome Homes

FAQ

What is the Compass and Welcome Homes Preferred Agent Program?

The Preferred Agent Program allows Compass agents to offer Welcome Homes services, providing clients with new construction options.

When was the Preferred Agent Program announced?

The program was announced on June 2, 2022.

What benefits do agents receive from the Preferred Agent Program?

Agents benefit from a scaled commission structure, sales training, support, and co-branded advertisements.

How does the Preferred Agent Program address inventory shortages?

It empowers agents by providing new construction options, directly addressing the inventory shortage in the real estate market.

What is the significance of the partnership for Compass agents?

The partnership enables agents to enhance their offerings to clients and improve sales through access to new home building options.